Neglected Cabo Rico 38

[OBT]

One piece of advice on an engine that has sat for extended time - even over a winter. Before starting, pull out the stop knob to shut off the fuel, turn the engine by hand. Any minor mechanical issue such as a seized fuel pump shaft will make itself evident. If the engine turns, then give starting it a go. Might save you big bucks.
This is advice from the mechanic that rebuilt the engine ($6,700) for the owner (not me fortunately)that didn't replace a seized water pump ($300) which destroyed the camshaft.

Old engines can work just fine. My previous boat had been on the hard for 3 years and was still running just fine when I sold it after 14 years - total age of the engine - 35 years.

[LeeV]

I'd make your "shopping list" and then compare it to something like this:

https://www.yachtworld.com/boats/198.../#.W3xnFmgvxPY

How does the condition of the boat in that link and it's price compare to where you'll be and how much you'll spend on the boat you're looking at. That might give you pause...

Nice boat, though!

[jhulmer]

Originally Posted by Suijin

One last point. It’s a universal truth that to bring an older neglected boat up to the condition of a well kept sistership costs more than buying the well kept sistership to begin with... unless you have the skills to do 90% of the work yourself. Even then it’s a close call in most cases. There are obviously exceptions, but they are in the minority.

If you’re not handy, take the money, bank it, and keep saving.

I have to agree with Suijin. I have purchased my boat knowing I had the skills to refurbish and refit and thought it would only take me a year and about $15k.

I blew past that in the first year and I just past my third year on the project. And, that is working every weekend, holiday, and spare minute I can find.

But I love the boat and knew it would be a lot of work and expensive but I love doing it. And, being a little OCD doesn't help. I should have taken the money I've spent and bought a much better boat and still taken a year to refit and I would be back sailing!

My boat is 7 years older then the one you are asking about but I have replaced or repaired the following:

• Teak Decks - removed and repaired wet balsa core in places (I don't ever want to do that again)
• fuel tanks - removed Old rusted leaking steel tanks fabricated and installed new Stainless tanks
• Water tanks - cleaned and repaired/replaced all plumbing
• Engine - rebuild the Yanmar Engine and gear.
• prop shaft - replaced with new shaft and prop
• prop shaft log - bronze but pitted bad, replace with new
• through hulls and valves - replaced all with Groco bronze
• wiring - replaced 90% of all wiring and added new electrical panel and batt switches.
• Refrigeration - re-insulated the box and installing a new unit.
• electronics - all new, Autopilot, plotter, radios, instruments etc
• Rigging - still evaluating but probably replace
• Sails- probably will replace all sails also

Well, you get the idea the list goes on. If I had paid the labor on this I could have bought a very nice boat ready to go with all the above in good shape and upgraded items over time.

You state you are no Mr fix it, Unless this boat is in excellent condition and the decks' core is not wet (you need a moisture meter to tell) then up your budget and keep looking. Frankly I would run away from teak decks knowing what I now know!

That all said I love the Cabo Ricos and it is hard to say no! My dream boat Is the CR 43 and I shoulda, coulda, woulda!

Good luck
Jim

[Glsailor]

Last year I found a Rassy 42 that was for sale for "only" 40,000. It had been donated by its elderly owner to raise money for a sail school. Same story--I knew I could rebuild the interior and upgrade the electronics, etc. Sails were in remarkably good shape as was the running gear. I was going to low ball an offer and decided to have it surveyed. Surveyor found almost every bulkhead had been rotted out in areas I couldn't easily inspect on my own. Apparently it had been functioning as a bathtub for a few years on the hard. In the end, the broker offered to give me the boat free of charge. I still turned it down! Even though I felt that I had wasted my survey fee, I'm thankful I didn't take it on even for free. We now have a Camper & Nicholson 35, which still needs work but is a completely functional sailboat. The moral of the story--invest in a survey! At the very least, it will give you a checklist of things to work on and let you set a timetable...and budget.

[GUFFEY]

I owned a 1982 Cabo Rico 38 for seven years and loved that boat. Solid as a rock, sails like a dream, perfect cruising boat for a couple.

Any Cabo Rico 38 is going to be old and will have issues expected in a 20 to 30 year old machine floating in salt water. I agree with the above comments re teak decks. Mine were a never ending cosmetic issue but they never leaked. I will never own another boat with teak decks.

Another problem with old Cabo Rico's is osmotic blisters on the hull. I did a full bottom peel and recoat but if I had it to do over I would have left them alone, saved the money and effort and just enjoyed the boat.

My boat had the original Perkins engine. It ran great and was easy to work on.

Miss my Cabo to this day and wouldn't hesitate to buy another one.

[jalmberg]

The problem is, even a boat that looks Bristol and gets a great survey can have lots and lots of problems. As can brand new boats!

I personally don’t put much stock in surveyors. If I ever buy another boat I will find a diesel guy to inspect the engine, a rigger to inspect the rig, a sail maker to check the sails, etc.

That would be AFTER I spent a minimum of three days inspecting her myself. I have a lot of general knowledge after owning a series of project boats.

once I knew what I was getting into, I’d see if the boat met my budget, allowing a large buffer for the unexpected.

Remember: there are essentially an infinite number of boats for sail, never fall in love with a boat you don’t own, or think there is any urgency to buy one . There’s always a better one around the corner.

[zboss]

Originally Posted by Tom Boles

I really appreciate everyone's feedback here. I do have a question about the comments on teak "wet deck." Is this something I can see of feel? Or do I make the assumption that if it is teak, it is bad?

If I get past the deck hurdle:

zboss...you say most people are replacing that engine with a Beta marine 43. Ballpark, what I am looking at for purchase and installation? Also, you replaced almost everything I was thinking I had to do...probably yourself. I am no Mr fix it....How much to have it done?

Thanks so much

Tom

Paying someone else you are looking at about 20k after you replace all the parts that you would want to replace after getting the old engine out.

[zboss]

Originally Posted by Bobel

Generally a good quality boat. Probably >20 years old. All boats are money pits - period. Having said that we all have one or two or three and don't mind lavishing our love and hard earned money on them. The only way to control costs is to do the work yourself. Even then the parts cost.



Get the boat inspected by certified surveyor and make sure she is up to NMMA standards. Price out the punch list and make a decision. Cabo Rico uses high quality parts that are oversized and over engineered for boats of similar size. That is a good thing. Also makes for expensive replacement. I would be reluctant to drop quality so plan to spend. Also Cabo Rico no longer exists so some parts will need to be custom machined. Thats pricey.



At this age you are really buying the hull. So the only deal breaker is damage to the hull. Make sure she is a dry boat and the Gel coat or awl grip are in good condition. Engine, chain plates, Standing rigging and running rigging, sails are all past life expectancy and I would consider replacing them if you can.



When you are done you will have a reliable beauty that you can feel secure in. Good luck.

I’ve never had to have anything custom machined.

What I did to save money was simple... don’t feel like I need to replace something with an exact match part. I have found that simply replacing the whole system and buying replacement parts up front is a lot cheaper thus trying to replace something with an exact match.

[swellskimmer]

Hi Tom,
Just completing 3 year restoration of a 35 foot coastal cruiser that was ignored for a few years. I recently considered buying a Cabo Rico 38 - tempted by a low-priced boat that had been ignored and in storage for a number of years. Given I had the numbers at hand, I started to add up the materials costs for a full refit. Then I looked at what both fully refitted and/or well maintained and 'in constant service' Cabo Rico 38s were selling for. Conclusion - absent a situation where you find a specific boat that has one single major defect that causes its price to be 'salvage' level ( e.g., water intrusion into one area of a cored deck - though I would avoid old teak decks like the plague!) that you have experience and specific skills, tools, and facilities required to fix), it is a way better deal to buy an existing boat that is in the condition you need it to be in to do what you want to do with it!
I don't regret the journey I am on with my refit, as I am retired and would rather be doing boat stuff than sitting in the donut shop - but OMG is it expensive to refit even if you do all the labor yourself.
Somebody wiser than me gave me advice for buying a sailboat - buy one that is as new as you can afford to have a boat that is in perfect or almost perfect order. The problem with neglected/abused boats is that we tend to only see the obvious surface defects, not the secondary, hidden defects caused by lack of care, maintenance, and use.
If you have not done a major refit before, and you have financial limitations as to how much you can spend, you may find yourself with all money spent and a half -finished boat, which is the making of disaster. Remember this is a boat that last sold for a half million dollars or so - so nothing is going to be cheap to replace or fix.
Good luck, but be prudent.

[Tom Boles]

Update:

On the Neglected Cabo Rico 38. My wife and I were going to look at it 3 weeks ago Saturday, and before we could, it had a contract on it...surprisingly.

I figure I dodged a bullet, since I do have a bit of an emotional to the CR 38.

The new buyer evidently had it surveyed and after getting the report, backed out of the deal. The broker emailed me this morning, enthusiastically telling me the boat is now back on the market at 40% less than before...."and won't last long."

I told him that it was probably still, well over what it surveyed and that if he gave it to me free, it would take $60K+ to be bought into sailing condition, (That number is what I came up with from responses on this thread...thank you members.) I told him I would pass.

His response was, "you may be right...it is a project boat for someone in with experience in a multitude of areas."

Definitely dodged a bullet.

[jhulmer]

Originally Posted by Tom Boles

Update:

On the Neglected Cabo Rico 38. My wife and I were going to look at it 3 weeks ago Saturday, and before we could, it had a contract on it...surprisingly.

I figure I dodged a bullet, since I do have a bit of an emotional to the CR 38.

The new buyer evidently had it surveyed and after getting the report, backed out of the deal. The broker emailed me this morning, enthusiastically telling me the boat is now back on the market at 40% less than before...."and won't last long."

I told him that it was probably still, well over what it surveyed and that if he gave it to me free, it would take $60K+ to be bought into sailing condition, (That number is what I came up with from responses on this thread...thank you members.) I told him I would pass.

His response was, "you may be right...it is a project boat for someone in with experience in a multitude of areas."

Definitely dodged a bullet.

WISE MOVE! keep looking your boat is out there!

[Fro]

I think I know of the boat you where interested in if it's on the hard in S. Fl. I didnt see it in person but could tell from pics that it was a project boat.
I ended up finding another cr38 also in S. FL. It also needs some work but I'm on a 3yr plan and have it sitting in my backyard so I can work on it anytime.
Are you on FB? Check out the CR owner's page. Some good deals come across for sale. That's where I found mine.
Keep looking you will find her.

[Tom Boles]

Fro....yes, I thing we are talking about the same boat. It boggles the mind that anyone could allow a boat that is as georgeous as that one started out, deteriorate to what it has become. I am still tempted to go look at it, but am afraid my "I can return it to it's former glory" mentality might get in front of my common sense.

I am on FB so will checkout that site. Thank you for your comments. I would love to see what you bought and what you are going to do to it.

Tom

[Fro]

Tom, I know exactly how you feel about someone letting a boat deteriorate as they did. It's sad.
If your not to far away and have some free time have a look at her. Then you will have something to compare with the next one you look at.
There's one in Texas that has a nice price but top part of mast was broken off last year during a Hurricane so needs a mast. It's on the FB site.
I would have definitely went and looked at it if I wouldn't have found the one I bought.
Mine is a 79 CR 38 hull #15 A plan layout. Purchased from the original owner it does still have the original teak decks that where maintained. But may pull them haven't decided on that yet.
I was the 2nd person to look at her. After purchase had her hauled by truck from Ft. Lauderdale up near N. Tampa.
Going to go through and inspect/replace/repair/rebed/freshen up just about everything.
Leaving our jobs at age 50 to do long term sailing for 3 or 4 yrs. So we have 3yrs to get it done.

[zboss]

Originally Posted by GUFFEY

Another problem with old Cabo Rico's is osmotic blisters on the hull. I did a full bottom peel and recoat but if I had it to do over I would have left them alone, saved the money and effort and just enjoyed the boat.

Only on older models. Ours (1987 plan B like the above) came with two layers of vinyl ester resin infused fiberglass and we have never had a blister.